KLCI extends losses, CIMB drags


  • Markets
  • Wednesday, 11 Mar 2015

KUALA LUMPUR: The FBM KLCI extended its losses at midday on Wednesday dragged by heavyweights and CIMB, in line with the unfavourable external and domestic concerns.

At 12.30pm the KLCI fell 8.21 points o 1,781.52. Turnover was 1.28 billion shares valued at RM981.25mil. There were 193 gainers, 515 decliners and 289 counters unchanged.

Reuters reported Asian stocks fell to a two-month low on Wednesday as nervous markets recoiled on worries about an earlier US interest rate hike, while such a prospect helped send the dollar to a 12-year high against the euro.

MSCI's broadest index of Asia-Pacific shares outside Japan was down 0.3% after touching its lowest since January. Australian and South Korean shares each lost 0.5% and Malaysian and Indonesian stocks also declined.

Meanwhile, Hong Leong Investment Research in a note said that in the wake of external headwinds and domestic 
concerns, the KLCI may experience short term correction towards 1,770-1,780 zones.

At Bursa Malaysia, CIMB fell 16 sen to RM5.79.

BAT fell 26 sen to RM67.46m F&N 26 sen to RM18.34 and BJFood 22 sen to RM2.58.

Gainers were MISC, up 15 sen to RM8.41 and Opcom 11.5 sen 82 sen.

Takaful rose 16 sen to RM12.60 and LPI 18 sen to RM22.32.

Nikkei 225 rose 0.77% to 18,809.01

Hong Kong Hang Seng Index fell 0.21% to 23,847.39

Shanghai Stock Exchange Composite Index rose 0.30% to 3,295.90

Taiwan Stock Exchange Weighted Index rose 0.18% to 9,553.70

Korea Stock Exchange KOSPI Index fell 0.21% to 1,980.54

Straits Times Index STI fell 0.45% to 3,382.96

Crude oil (WTI) rose 59 cents to US$48.88 and Brent 41 cents to US$56.80.

Spot gold rose 21 cents to US$1,162.05
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